Bank of England Governor Andrew Bailey will join Rachel Reeves on a visit to China next month aimed at strengthening financial services trade ties between the two countries. Sky News has learned that Mr Bailey and Nikhil Rathi, chief executive of the Financial Conduct Authority, will both accompany the chancellor during the January trip. Mr … Read more
The Bank of England has maintained its forecast for “gradual” interest rate cuts for next year, after surprisingly backing a cut this month. Its pricing committee, while deciding to keep Bank interest rate maintained at 4.75%, noted higher than expected salary increases and inflation despite a slowdown in the economy in the second half. However, … Read more
NatWest Group is to give its CEO a potential multi-million pound raise as it becomes fully privately owned again after almost 17 years in state hands. Sky News has learned that the chair of the bank’s remuneration committee, Lena Wilson, is consulting with major institutional shareholders over an overhaul of its board remuneration policy. Details … Read more
A third successive interest rate cut has been ordered by the European Central Bank (ECB) to help stem the slowdown in the eurozone. The bank’s board said that while its fight against inflation continued to make real progress, it was also acting to help fuel declining demand in the 20 countries that use the euro. … Read more
A representative image showing the International Criminal Court building. – AFP/File Sources: The International Chamber of Commerce meeting was postponed due to the lack of response from the Bahrain Chamber of Commerce and Industry The organizing body is seeking to finalize the Champions Cup schedule. The meeting will be held once the issues are finalized … Read more
Around half of UK mortgage holders will face higher interest rates over the next three years, the Bank of England has warned, amid concerns over the potential impact of the imminent return of Donald Trump at the White House. Its latest financial stability report – published twice a year – shows 4.4 million homes are … Read more
The governor of the Bank of England said industry lobby group the British Retail Consortium (BRC) was right to warn of job losses resulting from the Budget. There is a “risk” of rising unemployment due to increases in employers’ national insurance contributions and increases to the minimum wage announced by Chancellor Rachel Reeves last month, … Read more
A new investment vehicle founded by one of Britain’s biggest venture capitalists has taken a stake in Atom Bank, the digital-only lender. Sky News has learned that Lexham Partners, set up this year by Dominic Perks, co-founder of Hambro Perks, is negotiating the purchase of a multi-million pound stake in Atom Bank from a number … Read more